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  Service sector jumps: index of non-manufacturing activity surges to highest level since 1997
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ContributorTony82 
Last EditedTony82  Feb 05, 2004 01:43am
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News DateWednesday, February 4, 2004 06:00:00 AM UTC0:0
DescriptionNEW YORK (CNN/Money) - Growth in the U.S. service sector accelerated in January, the nation's purchasing managers said Wednesday, beating analysts' expectations.

The Institute for Supply Management's index of non-manufacturing activity came in at 65.7, compared with a revised 58 in December. Any reading above 50 indicates growth in the sector.

It was the highest reading for the index since the ISM started keeping track of service-sector activity in July 1997. Economists, on average, expected a reading of 60, according to Briefing.com.
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